JD.com (JD_9618.HK) & JD Logistics (2618.HK)_ 3Q24 review_ Record profits with JD Logistics a bright spot from scale benefits; maintain Buy JD_JDL; Neutral on Dada

更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 15 November 2024 | 7:20AM HKT JD.com (JD/9618.HK) & JD Logistics (2618.HK) 3Q24 review: Record profits with JD Logistics a bright spot from scale benefits; maintain Buy JD/JDL; Neutral JD and JD Logistics reported in-line 3Q revenue growth (at +5%/+7% yoy respectively) with growth accelerating for 4QE, and solid/strong 3Q24 net profit beats (+24% yoy/+205% yoy) leading to our lifting of FY24-26E profit forecasts where we believe the results showcased JD's consistent execution in ...